https://www.taxtmi.com/caselaws?id=9806 The High Court upheld the Tribunal's decision that the deduction under section 32AB should be based on the profits of the paper division alone without setting off the loss from the agro division. The Court emphasized that the provision does not allow for setting off losses from one eligible business against the profits of another. The Court highlighted that the method prescribed involves determining profits of each eligible business separately. The appeal was dismissed in favor of the assessee, ruling against the Revenue's argument for setting off losses from another eligible unit. en-us Tue, 25 Oct 2005 00:00:00 +0530 Wed, 01 Jul 2009 16:39:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=9806 The High Court upheld the Tribunal's decision that the deduction under section 32AB should be based on the profits of the paper division alone without setting off the loss from the agro division. The Court emphasized that the provision does not allow for setting off losses from one eligible business against the profits of another. The Court highlighted that the method prescribed involves determining profits of each eligible business separately. The appeal was dismissed in favor of the assessee, ruling against the Revenue's argument for setting off losses from another eligible unit. Case-Laws Income Tax Tue, 25 Oct 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=9806